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The Organic Feed Market, valued at USD 7.12 billion in 2023, is expected to grow at a compound annual growth rate (CAGR) of 8.74% from 2023 to 2033
INDIA, October 22, 2024 /EINPresswire / -- The Organic Feed
market encompasses products used in the raising of livestock, poultry, and aquatic animals that are produced using organic farming methods. This market is poised for substantial growth, driven by the rising demand for organic meat and poultry, alongside a focus on enhancing animal
health and productivity through high-quality feed. It is segmented by livestock type, feed form, and other criteria, offering a variety of organic feed options tailored to meet the specific requirements of different animal species. The market dynamics are also shaped by regulations governing organic food production and certification, as well as consumer perceptions regarding the benefits of organic products. Key drivers include increasing consumer awareness about personal health and environmental sustainability, as organic farming practices seek to mitigate the adverse effects of conventional agriculture. However, the organic sector faces challenges, including higher production costs and lower yields compared to conventional methods, which often translate into elevated prices for organic food products.
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Core Market Segments
“The cereals and grains segment is expected to grow faster throughout the forecast period.
The organic feed market is segmented by Type into Cereals & Grains, Oilseeds, Pulses, Meals, and Others. In 2022, the cereals and grains segment represented the largest revenue share and is projected to experience significant growth during the forecast period. Grains and cereals, including wheat, barley, and corn, are vital for animal feed due to their high yields. The market is expected to expand as awareness grows regarding the benefits of feeding livestock organic cereals and grains to meet their nutritional needs and enhance overall health and growth.”
“The poultry segment is expected to grow faster throughout the forecast period.
The market is categorized by Livestock into Poultry, Ruminants, Swine, Aquatic Animals, and Others. In 2022, the poultry segment was the market leader. The increased consumption of organic meat and higher chicken production have driven the demand for organic feed within the poultry industry.”
“The pellets segment is expected to grow faster throughout the forecast period.
Under Form, the market is divided into Pellets, Crumbles, Mash, and Others. Pellets are the most popular and widely utilized type of organic feed, and this segment is expected to see substantial revenue growth during the forecast period.”
“The Amino acids segment is expected to grow faster throughout the forecast period.
The market is also segmented by Additives into Amino Acids, Minerals, Vitamins, Enzymes, Phytogenic, and Others. The market is driven by factors such as heightened awareness of organic livestock feed, the rising trend of contract farming, and the availability of diverse organic feed options. Amino acids are the dominant segment in this category, as they play a crucial role in boosting immunity and promoting animal growth.”
Market Dominators
Cargill, BernAqua, Country Heritage Feeds, ForFarmers, SunOpta, Ranch-Way Feeds, Aller Aqua, Purina Animal Nutrition LLC, Scratch and Peck Feeds, Hi Peak Feeds
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Fueling Growth: The Essential Ingredients
Innovations in agricultural technology are significantly improving the efficiency and effectiveness of organic feed production. Advances such as precision farming techniques and the formulation of organic feeds tailored for optimal animal nutrition are propelling productivity and quality in the sector. These ongoing technological developments contribute to greater cost-effectiveness in organic feed production, enabling producers to meet rising demand while maintaining high standards of animal health and sustainability.
The future of Organic Feed Market
Organic feed manufacturers have the opportunity to broaden their product portfolios by introducing a diverse range of organic feed options designed for various livestock species, growth stages, and nutritional needs. This could involve developing specialized feeds for poultry, swine, cattle, and aquaculture, as well as creating formulations that cater to specific health or performance requirements. Such diversification can help meet the evolving demands of the market and enhance the overall effectiveness of organic livestock production.
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North America to main its dominance in 2023
The North American region maintains a leading position in the Organic Feed market. Meanwhile, the Organic Feed market in Europe, valued at USD 7.6 billion in 2022, is expected to experience significant growth at a substantial compound annual growth rate (CAGR) during the forecast period. This growth is attributed to an aging population in the region and a rising awareness of the negative effects of using chemical feed supplements for livestock.
Key Matrix for Latest Report Update
.Base Year: 2023
.Estimated Year: 2024
.CAGR: 2024 to 2034
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Swapnil Patel
Evolve Business Intelligence
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MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.